22 October 2012 17:14 [Source: ICIS news]
HOUSTON (ICIS)--A steep fall in US spot ethylene prices pushed ethylene margins for the third week of October down by 7.6%, the ICIS margin report showed on Monday.
Softer demand, especially from the polymer market, has been the main factor driving spot ethylene prices and margins lower.
US ethylene spot prices fell by 1.25-4.25 cents/lb for an average fall of 5.0% week on week.
Ethylene margins were also pushed down by higher feedstock costs for ethane. Ethane prices gained 4.6% during the week.
Ethylene co-product credits fell by 2.1% during the week, to 4.19 cents/lb from 4.28 cents/lb.
October spot ethylene was offered higher on Monday at 54.75 cents/lb, but no bids were heard.
($1 = €0.77)
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